The Torah Umada approach has produced gedolim. Examples include Rav Soloveitchik, the Lubavitcher Rebbe, Rav Willig, Rav Shechter, and Rav YY Weinberg, etc.
A further point in the analysis is that in the Torah-only approach, if one doesn’t become a big Rosh Yeshiva, he is in danger of not being able to suppport his family, and causing them untold suffering and shalom bayis issues. While this is difficult to have to point out, as it is such a sensitive and painful issue, but in all honesty, from which camp do the many meshulachim come from?